LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Free Report) Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total value of $94,248.00. Following the transaction, the director owned 6,415 shares in the company, valued at $1,962,990. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
LPL Financial Price Performance
LPLA opened at $282.15 on Thursday. The company’s 50-day simple moving average is $300.36 and its two-hundred day simple moving average is $326.15. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. The stock has a market capitalization of $22.57 billion, a P/E ratio of 25.19, a P/E/G ratio of 0.61 and a beta of 0.50. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $403.58.
LPL Financial (NASDAQ:LPLA – Get Free Report) last released its earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.49 by $0.11. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.98 billion. During the same quarter last year, the business posted $5.15 earnings per share. The firm’s revenue was up 34.6% on a year-over-year basis. As a group, analysts predict that LPL Financial Holdings Inc. will post 22.98 EPS for the current year.
LPL Financial Announces Dividend
Analyst Upgrades and Downgrades
A number of research firms have weighed in on LPLA. UBS Group increased their target price on LPL Financial from $380.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of LPL Financial from $396.00 to $390.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. TD Cowen reduced their price target on shares of LPL Financial from $330.00 to $326.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a report on Monday, April 27th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $500.00 price objective on shares of LPL Financial in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $398.86.
View Our Latest Analysis on LPLA
Hedge Funds Weigh In On LPL Financial
Hedge funds have recently modified their holdings of the stock. Osterweis Capital Management Inc. acquired a new stake in shares of LPL Financial during the 2nd quarter valued at about $26,000. Clearstead Advisors LLC raised its holdings in LPL Financial by 3,650.0% in the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 73 shares during the period. Steigerwald Gordon & Koch Inc. boosted its position in LPL Financial by 550.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 66 shares in the last quarter. Core Wealth Advisors LLC acquired a new stake in LPL Financial in the fourth quarter valued at approximately $36,000. Finally, Physician Wealth Advisors Inc. increased its position in shares of LPL Financial by 580.0% in the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after buying an additional 116 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.
LPL Financial Company Profile
LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.
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